Re: What is a Renumeration Report?
CLERP 9 requires listed companies to disclose to shareholders the details of directors' and executives' salaries and bonuses in a 'Remuneration Report' and to submit this report to the shareholders for their approval at the company's AGM.
The approval is via a non-binding resolution to adopt or reject the remuneration of directors and executives.
In the case of Telstra, 60% of shareholders rejected the remuneration report but as it is a non-binding vote, the pays of people in the report were not impacted.
Essentially it forms part of good corporate governance.